Money on the markets
A maturing market amid the mayhem
The BSE Small-cap Index outperformed all other sectoral indices on Thursday, rising 2.4 percent in a firm market that ended nearly one percent up.
Of the 481 stocks in the small-cap index, 15 gained 10 percent or more, of which two jumped nearly 20 percent.
Top gainers included Shree Ram Mills, Vishal Information, BAG Films and Sarda Energy.
The mid-cap index gained 0.9 percent. Stocks like Astrazeneca Pharma gained over 7.5 percent and ended as the top index gainer. Biocon shares rose 4 percent.
Hurt by an appreciating rupee, the BSE IT index slipped 1.7 percent on Monday and ended as the worst sectoral performer among indices. The benchmark Sensex however ended 66 points higher on hopes of good earnings.
Top sectoral losers NIIT and Mphasis ended down 3.7 percent and nearly 3 percent respectively.
It was a good day at the bourses with over 95 BSE stocks touching their 52-week high on Friday.
Some stalwarts that made it to the list included HDFC Bank, Tata Steel, Hindalco and PNB.
Shares in Hero Honda gained more than 4 percent on Thursday as markets ended firm with the Sensex rising by 107 points.
BSE Auto index rose 0.46 percent.
Amtek Auto climbed 1.4 percent whereas Ashok Leyland gained nearly 1 percent.
Among losers, Tata Motors’ stock had a weak trading session and ended down 1.87 percent. Maruti Suzuki slipped 1.47 percent.
It was a mixed day of trade for banking stocks on the bourses on Tuesday as the sectoral index closed marginally higher, but stocks like HDFC Bank gained over 2 percent and PNB jumped 1.9 percent.
Of the 17 stocks in the index, 11 closed in green, led by HDFC Bank. Kotak Mahindra Bank was the worst index performer, as it ended with losses of 2.1 percent.
from India Insight:
(UPDATE: Reliance Industries has gained an overseas foothold by agreeing to pay $1.7 billion to form a joint venture with U.S.-based Atlas Energy. India's largest-listed firm will pick up a 40 percent stake in Atlas's operations in the booming Marcellus Shale)
The ruthless efficiency and smooth execution that marked Reliance Industries' development of the world’s largest refining complex in western India and its vast gas fields off the country's east coast has eluded the top-listed Indian firm during its recent attempts at overseas takeovers.
Shares in Hindustan Unilever (HUL) gained 2.6 percent on Monday to close at 225.3 rupees and was among the top Sensex gainers even as markets ended flat.
The volumes stood at a little over 1 million shares on BSE.
Hurt by the pricing war in the detergent space, HUL shares had been struggling and lost more than 8 percent over the past two sessions.
Consumer goods maker Hindustan Unilever fell over 4 percent on Thursday to close at 229 rupees and was the top loser among Sensex components.
The firm, which is a unit of Anglo-Dutch firm Unilever, also ended as the top loser on the BSE FMCG Index, which dropped 0.8 percent and was one of the top sectoral losers.
Metal stocks had a weak trading day at the bourses with the BSE Metal Index posting losses of 1.56 percent to end as the top sectoral loser.
All stocks in the sectoral index, except Welspun Gujarat, closed in the red. Gujarat NRE Coke led the losers with a 4.4 percent fall.